Nvidia shares drop 4.3% as FBI probes spy-linked scandal around CEO
What's new: A shareholder lawsuit filed in California alleges Nvidia hid ties that posed national security and reputational risks.
Nvidia shares fell 4.3% on Monday after President Donald Trump said the FBI is looking into allegations linking CEO Jensen Huang to a businesswoman US officials believe passed information to Beijing. Nvidia's board has opened its own probe after the New York Times reported that Alice Huang, a former executive at Singapore-based Megaspeed, was a Chinese intelligence asset. Huang told Trump he did not know she was a spy, Trump said. The stock decline erased roughly $190 billion in market value, and shareholders quickly sued Nvidia and Huang in federal court in San Jose, accusing them of concealing ties that created national security concerns and damaged the company's business prospects.
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Earlier in this story
- 8 hours agoNvidia, Jensen Huang sued as board probes alleged spy-linked affair
- 8 hours agoNvidia shares drop 4.3% as FBI probes spy-linked scandal around CEOreading now
- 10 hours agoChina rejects espionage claims targeting Nvidia CEO
- 17 hours agoTrump backs Nvidia CEO as board probes alleged China spy tie